Kornitzer Capital Management Inc. KS Reduces Position in BellRing Brands, Inc. (NYSE:BRBR)

Kornitzer Capital Management Inc. KS decreased its holdings in BellRing Brands, Inc. (NYSE:BRBR) by 16.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 156,710 shares of the company’s stock after selling 31,770 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in BellRing Brands were worth $9,515,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Vanguard Personalized Indexing Management LLC lifted its position in shares of BellRing Brands by 2.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 10,375 shares of the company’s stock worth $540,000 after acquiring an additional 242 shares in the last quarter. Hanseatic Management Services Inc. grew its holdings in BellRing Brands by 1.8% during the 2nd quarter. Hanseatic Management Services Inc. now owns 14,484 shares of the company’s stock valued at $828,000 after buying an additional 263 shares in the last quarter. Bessemer Group Inc. increased its position in shares of BellRing Brands by 3.8% during the first quarter. Bessemer Group Inc. now owns 7,459 shares of the company’s stock valued at $440,000 after buying an additional 276 shares during the period. Fifth Third Bancorp boosted its position in shares of BellRing Brands by 51.4% in the second quarter. Fifth Third Bancorp now owns 1,102 shares of the company’s stock valued at $63,000 after acquiring an additional 374 shares during the period. Finally, Quarry LP grew its stake in BellRing Brands by 65.3% during the second quarter. Quarry LP now owns 957 shares of the company’s stock valued at $55,000 after acquiring an additional 378 shares in the last quarter. Institutional investors own 94.97% of the company’s stock.

Analysts Set New Price Targets

BRBR has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft decreased their price target on shares of BellRing Brands from $67.00 to $65.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Truist Financial raised their price target on BellRing Brands from $50.00 to $60.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Stephens reissued an “equal weight” rating and set a $55.00 price objective on shares of BellRing Brands in a report on Tuesday, August 6th. JPMorgan Chase & Co. dropped their target price on shares of BellRing Brands from $65.00 to $64.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Finally, Evercore ISI increased their price target on shares of BellRing Brands from $65.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $66.14.

BellRing Brands Stock Performance

NYSE BRBR opened at $68.87 on Friday. The stock has a market cap of $8.90 billion, a P/E ratio of 41.25, a price-to-earnings-growth ratio of 1.58 and a beta of 0.84. BellRing Brands, Inc. has a fifty-two week low of $44.37 and a fifty-two week high of $69.42. The stock has a 50 day simple moving average of $61.78 and a two-hundred day simple moving average of $57.94.

BellRing Brands (NYSE:BRBR) last released its quarterly earnings results on Monday, August 5th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.10. BellRing Brands had a net margin of 11.55% and a negative return on equity of 88.30%. The business had revenue of $515.40 million for the quarter, compared to analysts’ expectations of $504.73 million. During the same quarter in the previous year, the business posted $0.34 earnings per share. The firm’s revenue for the quarter was up 15.6% compared to the same quarter last year. Sell-side analysts predict that BellRing Brands, Inc. will post 1.9 earnings per share for the current year.

BellRing Brands Profile

BellRing Brands, Inc, together with its subsidiaries, provides various nutrition products in the United States. The company offers ready-to-drink (RTD) protein shakes, other RTD beverages, powders, nutrition bars, and other products primarily under the Premier Protein and Dymatize brands. It distributes its products through club, food, drug, mass, eCommerce, specialty, and convenience channels.